April 2026 Seattle Condo Market Recap
It seems Seattle’s condo market aligned with the damp and dreary half of Seattle’s Spring season last month. While the number of condo listings blossomed, unit sales and selling prices withered.
Selling Prices Soften
Per the NWMLS, the overall Seattle citywide median selling price dropped to $575,000 in April, reflecting a year-over-year (YoY) and month-over-month (MoM) decrease of 3.9% and 4.6%, respectively. This is for all properties classified as a condominium in the NWMLS and was the 4th consecutive YoY decrease compared to 2025.
Breaking these out by traditional condos (e.g. individual units in a large building / complex) and non-traditional condos (everything else), traditional condos faired slightly better. The median sales price for traditional condos was $469,950. That reflected a one-year decline of 13.2% but only a 1.1% dip from March. Non-traditional condos had a median sales price of $685,000, which exhibited a YoY and MoM drop of 16.9% and 12.2%, respectively.
Non-traditional condos include single family houses, townhomes, accessory dwelling units (ADU), detached accessory dwelling units (DADU), boat moorage and deeded parking spaces. They accounted for 32.7% of all Seattle condo sales in April.
Even though Seattle as a whole reflected depressed selling prices, there were positive movement as well. For instance, YoY median sale prices rose in South Seattle (+23.1%), Downtown / Belltown (+17.1%), Southeast Seattle (+6.1%) and West Seattle (+6%).
On the other hand, Northeast Seattle (-40.8%), Queen Anne / Magnolia (-10.8%), Northwest Seattle (-5.5%) and Capitol Hill / Central (-4.9%) experienced falling selling values. Keep in mind, these neighborhood figures are a one-month snapshot, heavily influenced by townhome & DADU sales, and based on small sample sizes. View complete neighborhood area results here.
Seattle Condos Listings Spring in Abundance
Seattle condo listings continued to rise. We ended April with 1,067 units for sale listed in the NWMLS. That reflected a 10% increase over the same period last year and 14% more than we had in the prior month.
We started the month with 936 listings. Sellers added another 526 new listings to market over the month for a total of 1,462 units. However, that 526 new listings were 10 fewer than the previous April, a drop of 1.9% compared to 2025. Thus, fewer sellers decided to sell…albeit just by 10.
Of the 1,462 total listings in April, 395 listings came off the market, which left 1,067 at month end. These came off the market due to sales, listing cancellations and expirations, being rented out or for other reasons.
With more listings overall combined with slower sales activity, the Seattle condo inventory supply rate rose to 4.4-months of supply based on pending sales and 5-months based on closed sales. This effectively moves Seattle into a normal or balanced real estate market.
The inventory supply rate categorizes the current market environment. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market.
Like median selling prices noted above, the supply rate and the environment sellers and buyers find themselves in are influenced by area. Seattle’s real estate is comprised of neighborhood micro markets that are impacted by condo density and desirability.
For example, the condo-dense Downtown / Belltown area has a supply rate of 8.5-months, firmly placing it in a buyer’s market. Though, ironically, it also exhibited a 17.1% increase in selling prices last month, which was affected by high-end luxury sales shifting the median mid-point upwards. Conversely, Northwest Seattle and West Seattle have supply rates under 3-months, reflecting a seller’s market.
Sales Activity Pleateau
There were 245 pending sales transactions in April. That was an improvement of 2.1% over the prior month, but was 0.4%, or 1 sale, less than a year ago. Fortunately, sales are trending upwards as we’d anticipate for the Spring season.
Interest rates jumped last month, which could have dampened sales. The condo market is shaped by its predominate buyer pool (the technology and medical segments based around downtown). Tech employment layoffs, fluctuating financial markets and 401K balances, and general uncertainty both locally and globally all impact Seattle’s condo market.
The number of closed condo sales improved over March by 3.4% to 213 units. However, that was 9% fewer closing than a year ago. Closings lag pending by a month, so the decent number of pendings in April will hopefully result in solid showing for May closings.
In Summary,
Seattle’s real estate market is historically cyclical — we experience the same trends year after year. The Spring season is the most active period with more listings, more buyers and a greater number of sales and higher prices. For the most part, Seattle is still holding to its selling cycle, but continues to lag behind and underperform 2025.
For qualified buyers, this presents opportunities. Although mortgage interest rates fluctuate, they have been fairly stable, hovering around the low-to-mid 6s. There hasn’t been dramatic spikes. The abundant supply provides lots of options to chose from and has tempered prices around the condo-dense downtown core.
Seller’s experience may largely be based on location. Outlying neighborhoods where there are fewer traditional condos and limited supply, will fair better. Sellers may experience shorter selling times and better selling price to list price ratios. Sellers around the downtown core may need to buckle in for longer selling time and softer prices.
Seattle Condo Market Statistics April 2026
Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
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